Mulkia Investment Co (SAU:9585) Beneish M-Score: -2.95 (As of Jul. 04, 2026)


SAU:9585 Mulkia Investment Co SAU:9585
26 GF Score
Price ﷼39.88
! 7 Warning Signs
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What is Mulkia Investment Co Beneish M-Score?

Mulkia Investment Co SAU:9585 26 Beneish M-Score is -2.95 as of Jul. 04, 2026. GuruFocus rates SAU:9585 with a GF Score™ of 26/100. The stock has 7 warning signs investors should review. Among 950 Asset Management companies, Mulkia Investment Co ranks better than 80.95% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.95 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Mulkia Investment Co's Beneish M-Score or its related term are showing as below:

SAU:9585' s Beneish M-Score Range Over the Past 10 Years
Min: -2.95   Med: -1.9   Max: -0.85
Current: -2.95

During the past 4 years, the highest Beneish M-Score of Mulkia Investment Co was -0.85. The lowest was -2.95. And the median was -1.90.

Mulkia Investment Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Mulkia Investment Co's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Mulkia Investment Co Beneish M-Score Chart

Mulkia Investment Co Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -0.85 -2.95

Mulkia Investment Co Semi-Annual Data
Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -0.85 0.00 -2.95

SAU:9585 vs BLK, BX, KKR: Beneish M-Score Comparison

For the Asset Management subindustry, Mulkia Investment Co's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Mulkia Investment Co Beneish M-Score vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Mulkia Investment Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Mulkia Investment Co's Beneish M-Score falls into.


SAU:9585
26GF Score
Mulkia Investment Co SAU:9585
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Mulkia Investment Co Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Mulkia Investment Co for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.9595+0.528 * 1.1383+0.404 * 0.853+0.892 * 0.842+0.115 * 1.0711
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.8479+4.679 * -0.01803-0.327 * 1.254
=-2.95

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was ﷼37.09 Mil.
Revenue was ﷼38.70 Mil.
Gross Profit was ﷼24.21 Mil.
Total Current Assets was ﷼78.35 Mil.
Total Assets was ﷼120.46 Mil.
Property, Plant and Equipment(Net PPE) was ﷼15.02 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼1.34 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼3.06 Mil.
Total Current Liabilities was ﷼8.73 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼11.62 Mil.
Net Income was ﷼16.68 Mil.
Gross Profit was ﷼0.00 Mil.
Cash Flow from Operations was ﷼18.85 Mil.
 Total Receivables was ﷼45.91 Mil.
Revenue was ﷼45.96 Mil.
Gross Profit was ﷼32.73 Mil.
Total Current Assets was ﷼73.30 Mil.
Total Assets was ﷼113.56 Mil.
Property, Plant and Equipment(Net PPE) was ﷼10.32 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼0.99 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼1.96 Mil.
Total Current Liabilities was ﷼9.25 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼6.05 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(37.094 / 38.699) / (45.912 / 45.96)
=0.958526 / 0.998956
=0.9595

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(32.725 / 45.96) / (24.207 / 38.699)
=0.712032 / 0.62552
=1.1383

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (78.348 + 15.018) / 120.464) / (1 - (73.295 + 10.322) / 113.564)
=0.224947 / 0.263702
=0.853

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=38.699 / 45.96
=0.842

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(0.989 / (0.989 + 10.322)) / (1.335 / (1.335 + 15.018))
=0.087437 / 0.081636
=1.0711

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(3.056 / 38.699) / (1.964 / 45.96)
=0.078968 / 0.042733
=1.8479

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((11.618 + 8.733) / 120.464) / ((6.052 + 9.247) / 113.564)
=0.168938 / 0.134717
=1.254

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(16.677 - 0 - 18.849) / 120.464
=-0.01803

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Mulkia Investment Co has a M-score of -2.95 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.95 mean?
Mulkia Investment Co (SAU:9585) has a Beneish M-Score of -2.95 as of Jul. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mulkia Investment Co and its competitors. According to the industry distribution chart, Mulkia Investment Co ranks #181 out of 950 companies in the Asset Management industry, placing it in the top 19.1%.
Is Mulkia Investment Co's Beneish M-Score too high?
Mulkia Investment Co's current Beneish M-Score is -2.95. Based on the distribution chart, Mulkia Investment Co ranks #181 out of 950 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Mulkia Investment Co has a GF Score™ of 26/100, reflecting its overall financial health beyond just this single metric.
How does Mulkia Investment Co's Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Mulkia Investment Co ranks #181 out of 950 companies for Beneish M-Score. This places Mulkia Investment Co in the top 19% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for an Asset Management company?
A good Beneish M-Score depends on the Asset Management industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mulkia Investment Co and its competitors. Mulkia Investment Co's current Beneish M-Score is -2.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mulkia Investment Co stock overvalued right now?
Mulkia Investment Co (SAU:9585) has a current Beneish M-Score of -2.95. The current Beneish M-Score is -2.95. Mulkia Investment Co's overall GF Score™ is 26/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Mulkia Investment Co (SAU:9585), the current Beneish M-Score is -2.95 as of Jul. 04, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Mulkia Investment Co Business Description

Address 8565 Prince Abdul Aziz Bin Musaid Bin Jalawi Street, 1st floor, The Elite Mall, P.O Box 52775, Al Sulaimaniayah District, Riyadh, SAU, 12234
Mulkia Investment Co is engaged in securities business including: Dealing, Custody Securities, Managing investments and operating funds Managing investments, Arranging Financial advisor or corporate finance advisor and Advising Investment Advisor. It provides diversified and integrated financial and investment services tailored to suit the goals of individuals and institutions of different types and sizes. It operates in the field of asset management, arranging corporate finance, financial advice and research. KSA, USA and Europe represents the geographical concentration of assets, liabilities, revenues, and expenses of the company.
26GF Score

Get the complete analysis for SAU:9585

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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